April 25, 2012 Fed Statement Could Signal Bottom in the Markets

The Fed Statement today will prove to be important for the intermediate direction of the markets. In this article, Chris Ciovacco addresses why the timing of the Fed Statement may work very well in the markets’ favor for many different reasons.

Apple (AAPL:NASDAQ) just blew the top off earnings projections after almost doubling profits from its iphone sales in China. And given the technical support levels forming in the S&P, we may be in for the perfect storm to see a market rally.

Ciovacco mentions that things were looking shaky earlier in the week, but that the latest development from Apple (AAPL:NASDAQ), the technical support levels forming in the S&P, Homebuilders Index and Financials could support a significant rally.

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